Brausch and its affiliated company, DHL Bathroom Supplies, have initiated steps towards liquidation.
The firms have commenced proceedings for a Creditors’ Voluntary Liquidation (CVL), an avenue allowing directors to voluntarily dissolve an insolvent company’s affairs.
Begbies Traynor has been designated as the appointed liquidator, acknowledging the early stages of the CVL process.
CVL initiation typically follows when directors/shareholders assess that their company’s financial challenges are insurmountable.
A Brausch employee expressed lamentation over the development, citing its significance in the bathroom industry as a reputable distributor specialising in brands like Villeroy & Boch.
Established in 1985, Brausch primarily distributed products from Villeroy & Boch, Keuco, and Toto across Southern England, Wales, the Midlands, and parts of the North West.
While Brausch’s turnover for 2022 saw a modest increase of approximately 12%, profits took a significant hit, plummeting by over 45% as per the September 2023 financial reports. The directors had outlined plans to navigate the challenging market landscape through strategic initiatives.